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Colon, Panama real estate
Colon City real estate in Panama is going to go up in price for years to come. Colon is the city on the Caribbean end of the Panama Canal. It is the site of the second largest duty free zone in the world next to Hong Kong. Colon is only 50 miles from Panama City where construction is booming and property values escalating. As Panama improves its infrastructure the interoceanic highway connecting Panama City to Colon will reduce travel time to less than an hour. Colon City real estate on Panama’s Caribbean coast as well as the entire province of Colon is expected to benefit.
Panama real estate investment is a good value because Panama is a good value. With the US administration of the Panama Canal until 1997 there has been a long history of US involvement in Panama. Today Panama has the highest US investment per capita of all of Latin America. As a result Panama has much better and better maintained airports, highways and port facilities than any other country in Latin America. This is only going to improve as the Panama Canal expansion project moves to completion as well as plans for extensive harbor facilities on the Caribbean. In Panama the phones work, you receive cable based email in your home, and you have your choice of CNN in English or Spanish on cable TV.
In Panama the dollar circulates as local the currency, the Balboa. Because of the Panama Canal, Panama has long had a strong banking system. You can deposit your dollars as Balboas and take them out again as dollars on a 1:1 exchange.
Think of retiring to Colon City real estate in Panama. Panama’s laws make retirement residency here easy. If you are retired here you will get the same discounts on many goods and services as Panamanian retirees.
Real Estate Values in Colon City, Panama
The housing boom has not hit Colon to the extent it has hit Panama City. Colon City real estate in Panama is still very reasonably priced compared to the US, Europe, and other parts of the Caribbean. However, a five to ten fold increase in property values is expected in and around Colon with the completion of the new major road linking Colon to Panama City fifty miles away.
Currently Colon City, Panama commercial real estate is being offered for sale for around $17 a square foot in modern business complexes. Commercial real estate prices are expected to increase substantially in the next few years following the pattern of Panama City across the Isthmus of Panama.
Real estate on the Caribbean in and around Colon City, Panama sells for up to $450,000 for a five bedroom, well maintained home. Along the Caribbean within easy driving distance are untouched coastal areas just now accessible by road. These "suburban" properties sell for a fraction of other coastal areas in Panama not to mention the USA and other parts of the Caribbean. Colon City, Panama real estate is a bargain. Buy here and come live in paradise.